The automotive industry is benefiting from economic recovery

The auto industry benefited from the recovering economy in the third quarter. Figures from Statistics Netherlands (CBS) show that turnover in the sector increased by almost a quarter in the measurement period compared to the second quarter. Virtually all industries in the sector benefit from this.

Importers of new passenger cars saw sales increase the most in the third quarter. It grew in average by 45 percent on a quarterly basis, aided also by the reopening of factories and the increasing demand for new cars. Last month, the number of registrations of the Volkswagen ID3 was particularly successful. Naturally, it helps that the sale of EVs has started a final sprint due to the changing addition regime. Commercial vehicle sales rose by more than 25 percent.

Sales in the trade and repair of cars rose by an average of 23 percent. The rising revenues were partly the result of the extra traffic on the road. The wholesale and retail trade in parts saw sales grow by 18 percent. The recovery has also helped contain damage to the industry earlier this year. It even resulted in modest growth: for the full year, turnover in the sector increased by 0.3 percent compared to 2019.

Partly because of this revival, the number of unfilled vacancies in the sector increased further. In the third quarter, 3,000 vacancies were not yet filled, while that number was 2,300 a quarter earlier. It also turned out that the confidence of entrepreneurs in the car industry is increasing. It should be noted, however, that entrepreneurs in the sector are generally slightly more pessimistic than in other industries.

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